Powell Sworn In As New Fed Chief

Janet Yellen Is Out of the Fed. But She's Not Out of a Job

Jerome Powell has taken office as the sixteenth president of the US Federal Reserve on Monday and takes over from Janet Yellen.

Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank. The Fed is expected to continue gradually raising interest rates back toward more "normal" levels.

He has steadily supported Ms Yellen's approach to monetary policy and financial regulation, creating an expectation that he would be unlikely to attempt large or sharp changes in the Fed's course. He was reappointed to the board and sworn in on June 16, 2014 for a term to end on January 31, 2028.

The new chairman also takes over the Federal Open Market Committee at a time when it has plenty of holes to fill.

ESPN Plus streaming service will launch this spring for $4.99 per mo
Earnings for the quarter included a $1.6 billion one-time tax benefit associated with new USA federal income tax legislation. Speaking on Disney's earnings call Tuesday , Iger said ESPN Plus will be available via a new reconceived ESPN app.

From 1997 through 2005, he was a partner at private equity and asset management company the Carlyle Group.

He received a bachelor degree in politics from Princeton University and a law degree from Georgetown University.

Both Yellen and Ben Bernanke before her dealt with a low-inflation, low-interest-rate economy that gave rise to a strong run in the stock market. While at Georgetown, he was editor-in-chief of the Georgetown Law Journal. Trump nominated the economist Marvin Goodfriend for one of the positions. The Fed board signed off on the consent order by a 3-0 vote, with Powell supporting the move.

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